Most exports from MIC-registered firms

Around 58 per cent of exports between 2011 and 2016 were from businesses running under the official permission of the Myanmar Investment Commission (MIC), said commission secretary Aung Naing Oo. Exports earned more than US$7 billion in the 2011-12 financial year, US$6 billion in 2012-13, US$8 billion in 2013-14, US$7 billion in 2014-15 and US$6 […]

What the US can learn from Myanmar about infrastructure investment

America’s infrastructure is headed down a bumpy road, and unless the country takes drastic action to fix its ailing transport, water, and other infrastructure systems, it might well wind up with the types of struggles I’ve witnessed recently in Myanmar. I am here in Myanmar teaching an international business class for our MBA students as […]

MIC hopes to boost domestic investment

​​ Domestic sources invested over Ks12 trillion into production, transport, housing development, hotels and tourism and the construction sectors until the end of December, the Myanmar Investment Commission (MIC) said. Ks11 trillion was invested before March 2016 and more than Ks742 billion under the National League for Democracy government. The MIC had allowed 1,224 investments […]

Myanmar eyes junta’s old tricks to fight weaker currency

YANGON — Desperate to halt the severe depreciation of its national currency, Myanmar’s democratically elected government may revive drastic measures that were employed by the military junta. The kyat has lost about 20% of its value against the greenback in the past six months due to Myanmar’s growing fiscal and trade deficits stemming from lower […]

Construction and Real Estate Sectors Pin 2017 Hopes on New Legislation

​​ The construction sector will be glad to see the back of 2016 – a year in which a political transition, a high-rise review and a volatile currency conspired to leave many developers battered and bitter. But there were also signs of a fragile recovery in the real estate market, and new laws set to […]

Government Plans Monthly Meetings to Respond to Business Leaders

​​ RANGOON — Government leaders are planning to meet monthly with the local business community to listen to current problems and find solutions, Vice President U Myint Swe and National Planning and Finance Minister U Kyaw Win pledged last week. The first monthly meeting received a positive response. The vice president and finance minister met […]

Asia’s New Tiger Economy Fears Currency Slide

​​ Myanmar’s central bank is braced for a deeper slide in the nation’s currency and has little scope to tackle the decline after the kyat fell the most in Southeast Asia, according to one of the monetary authority’s top officials. The kyat has weakened about 10 percent against the dollar in the past six months, data […]

Education Ministry Wants to Take Back Rangoon Land from Property Developer

RANGOON — Burma’s Ministry of Education now wants Parliament to help it take back a valuable parcel of land that the former government gave away to international developer Marga Landmark. The 17.7-acre tract, situated in a prime location close to Rangoon’s Inya Lake and the Sedona Hotel, once belonged to the Ministry of Science and […]

Myanmar Business Leaders Bullish on Future Under Suu Kyi-

TOKYO — Business leaders in Myanmar are confident in the country’s future under the National League for Democracy government headed by de facto leader Aung San Suu Kyi, although they say improvements in infrastructure and the banking sector are needed to assure growth. Speaking at a Myanmar economic forum sponsored by Nikkei Inc. in Tokyo on […]

Military Conglomerate Hoping for More JVs

U Hla Moe, general manager of the planning department for the military conglomerate Myanma Economic Holdings Limited (MEHL), spoke to The Myanmar Times for an exclusive interview on operating as a public company, the outlook for joint ventures with foreign firms and competing on a level playing field in Myanmar’s new economy. The military established Myanmar Economic […]